00;00;06;16 - 00;00;28;23

Unknown

Welcome to the Profit First for Real Estate Investing podcast. Every week we bring you top investors and experts sharing how they create clarity, cash flow and consistent profit. This episode is brought to you by simple CFO. Profit first. Profit always. Let's go. Hey, it's David Richter on the first hour I podcast. Have Frank Iglesias here today. Have a really great episode.

00;00;28;24 - 00;00;48;04

Unknown

He talks about several deep themes of his real estate journey, of splitting focus and how that hurt, you know, on his journey, the right coach in his life that helped turn things around, the timing and reading books and just like the books that have helped him in the books that were shiny objects, it's just really good information here.

00;00;48;04 - 00;01;07;18

Unknown

If you want to become a better business owner. Frank shares a lot of wisdom, and I look forward to having you listened to this episode and diving right in. Thank you for being a listener of the first audio podcast. Hey everyone. It is David Richter of the Profit First ROI podcast. Super excited to have Frank Iglesias here.

00;01;07;21 - 00;01;28;12

Unknown

I was on his podcast who you got to check out his podcast as well, but I'm super excited because his read Profit First been down that road in the real estate world helping other people. So Frank, thanks for being on the show. Thank you David, I appreciate you having me out. Yeah. Well, okay. For people that don't know your work, how did you get into real estate?

00;01;28;12 - 00;01;53;07

Unknown

What brought you to this point? So then we can have go a little bit deeper. Oh, how do we get to real estate? Well, I was a former IT guy for 15 years. Okay. And toward the end of that world I like many people back and this is 2008, I got that email or I don't even remember what it was about a rich dad, poor dad seminar.

00;01;53;09 - 00;02;10;04

Unknown

Nice. And of course, I didn't really know. So it was just kind of. But it was, you know, it was pretty was the purple or whatever, his colors, the mouse and all that. So I was like, all right, we'll go. We'll check you out. Because I was just starting to learn a little bit about investments. I was like, all right, well, look.

00;02;10;06 - 00;02;32;10

Unknown

And of course, at the end of whatever it was a couple hours, it was like, whoa, right. So then that went to and you know the drill, right? Goes to the, the one day thing. And then that's then, you know, you're buying three classes, but what I didn't know was when I bought three classes, I kind of messed myself up the more I think about it.

00;02;32;13 - 00;02;54;20

Unknown

And that's because it was foreclosure wholesaling and lease options. Okay. And the problem with that is all of those were great. And of course, this was at the beginning of the real estate crash. So foreclosure of course, blew up. But it kind of split my focus. And so I tell people right off the bat, yes, I would have done it a little different.

00;02;54;20 - 00;03;15;17

Unknown

I would have gone deep on warm rather than buy three classes I would have liked, figure it out one and go all in on that. Yeah, but I was a form right guy. So what was I good at? Multitasking. Yeah. So it was just natural, like, oh yeah, three more things to do. I that's an everyday thing in my world, right?

00;03;15;24 - 00;03;38;08

Unknown

Right. But I didn't realize what I was really doing was creating a little bit of a jack of all trades approach rather than a focused approach. I tell people, don't do it the way I don't do what I did, pick one path and go. So what I did was the next few years. So I ended up leaving it because quite frankly, I was bored.

00;03;38;10 - 00;04;02;03

Unknown

Great company, great job, great team. Everything was great and I was bored. So it was kind of like, all right, if everything's great and I'm bored, clearly it's time for a change. And so we went all in on real estate, but we were always, you know, it was the wholesale thing. It was buy. It was buy foreclosures with the idea of renting and then, you know, the lease options.

00;04;02;03 - 00;04;24;07

Unknown

There really wasn't too much of back then. Right? Because everybody was like crazy. So but we did some fits and flip. And while as well. And so we kind of always had multiple things going the whole time, okay. So that's how we got into it. And just sort of evolved from there and to bigger projects and so forth.

00;04;24;07 - 00;04;44;06

Unknown

So, so how and since you're telling people not to go that route, the how it had real estate been for you, like was there a lot of dark times during that time, or was it like, hey, this is good, but it's just not getting us to where we want to be. I'm just wondering in your perspective why you're telling people like, I wish I would have just picked one route?

00;04;44;06 - 00;05;10;19

Unknown

Was it, you know, like it got you spread yourself too thin or what was the or some of those factors? Well, so no doubt we were spread to send, but we didn't even really realize it. Yeah. Because, you know, we were doing the fits and flip and then we would do the by flips rent and but then I learned about wholesaling Rose from Lee Kearney which you know everyone knows is.

00;05;10;22 - 00;05;29;03

Unknown

Yeah. And that was fantastic. And you know in retrospect I wish I'd gone all in on that. All right. But you know, you can't change the past. But but we still did it, but not like to the degree he was doing it. But but we always kept that tool in our toolbox. And we did wholesale a lot.

00;05;29;05 - 00;05;48;22

Unknown

Yeah. And, but, you know, it was just you let back in, you're like, man, if I had just done one thing instead of 2 or 3, like, if we'd not, or maybe if we didn't wholesale anything. Right. Because all the properties were cheap. What if we just bought everything and kept it right? Right. You know, like, we can all look back and know.

00;05;48;22 - 00;06;14;04

Unknown

Wow, that's exactly what we all should have done, right? Right. Yeah. But, you know, you don't know these things, especially when you're new and. But then I was learning real estate. I really wasn't learning business. Right. And so now I've learned since then I'm like in some ways I'm like, man, I wish I'd learn more about business because real estate is just a vehicle that sits on top of the stuff on the market.

00;06;14;06 - 00;06;33;03

Unknown

So then where would you say you've learned fundamentals of business then? So like if you would have gone back, what type of education around business would you have gotten? I would have gotten a business coach does. That's really what's happened. I got a business coach where he's strong. All right. We now learn sales. We got to learn marketing.

00;06;33;03 - 00;06;55;20

Unknown

We got to learn branding. We got to learn systems, procedures. Right. And the crazy thing about it is I came from it. So it's like I did it for 15 years. It wasn't like these were necessarily all new concepts. But the reality is I was burned out on it. So I didn't have that coach to say, let's pull those things.

00;06;55;20 - 00;07;14;04

Unknown

You're good at already and you understand into your real estate business, right? So then, you know, you you yeah, you go to a class and you're like, all right, you got to build systems to run a wholesale business, a flip business, and it's life. And it's like like it's some new concept. It's not new. Every corporate business that's successful.

00;07;14;04 - 00;07;47;14

Unknown

ASM right. But we just didn't link the two. And so I think to myself, man, I lost a lot of time because I didn't take advantage of of strengths that were already there. And yeah, so I tell people, if you're going to be in business, have a coach do not do real estate without coach. I think that's very interesting what you said, because you're like, I had this background, I knew systems were around, but it's almost like you needed someone to point in your situation to be like, hey, you're missing this part and you should have had someone there like guiding you on that path.

00;07;47;14 - 00;08;10;08

Unknown

So did you ever invest in a business coach along your journey? Yeah, we finally got into that a few years ago. We finally got someone to start helping us. And you know, I it's now opened my eyes to other people that coach business. And now you look at and once you start getting that knowledge, it's easy to look back and know, wow, yeah, we would have done this totally differently.

00;08;10;10 - 00;08;36;27

Unknown

Yeah. You know, you can't focus on the past. We did the best with what we knew at the time. But you know, the reality is most real estate courses don't teach business. They teach real estate. Yeah. Right. So it's but it's a different world when you start looking at it outside of, you know, when you see real estate is just a vehicle, you realize there's a whole layer beneath it that without that, it doesn't run smoothly.

00;08;37;00 - 00;08;58;17

Unknown

Yeah. And you kind of touched on that with those different areas of the business. But where do you what do you think are those important areas that everyone needs to learn? That's not just real estate specific, but more business specific. So right off the bat, sales and marketing. Now, if you got to know sales, you got to know marketing.

00;08;58;20 - 00;09;17;28

Unknown

I mean, those are the two big ones. I mean, do you need office systems? Of course you do. Right? You need those things and you just handle those fundamentals. A big one that I wish we had understood a lot sooner was bookkeeping. Yeah. The financials, because, you know, a lot of investors like I don't want to do, I don't want to do, I don't want to deal with it.

00;09;18;01 - 00;09;43;26

Unknown

And then, you know, my experience, most CPAs don't exactly. You know, they're like, all right, here's a tax return. Maybe I'll get a tax strategy meeting. See you in a year. Right. Exactly. Whereas that whole financials aspect, really understanding the numbers is a huge piece of it. Oh yeah. So it's easy to scale a real estate business and still have no idea what's going on, what your numbers are.

00;09;43;26 - 00;10;08;26

Unknown

At least you think you know. Yeah. And then you start realizing, wait a minute, there's a lot more to uncover here. But then you're going back to that same CPA, and they're not a bad person, right. And they might even they might have even done a great job on your returns. But we're the business. Coaching is what helps us connect the dots on how all these pieces work together.

00;10;08;26 - 00;10;35;26

Unknown

So you're a business owner, not just a real estate investor. Yeah. Oh, that's really good. So did that reminds me a lot of the, what's it called? The cashflow Quadrant or that other book by Robert Kiyosaki. You know, the cash flow quadrant. Was that did that help you? Did you or like, where did you get that mindset of, oh, shoot, you know, I shouldn't just be a real estate investor, should be a business owner as well too.

00;10;35;27 - 00;10;56;21

Unknown

Was it from that training? Because it sounds like that was a big turning point in your life. It's taken a lot of that training up front in that and just wondered where that came from too. Or if you have learned something through that or somewhere else. So. So the Cash Flow Quadrant is a great book, right? Yeah. The whole IRS, you know, all that.

00;10;56;23 - 00;11;18;25

Unknown

But the thing about cash flow part is I run it very early. So I didn't really write. And so like anything else, when you read it, it sounds great, but until you start living it, you're like, you don't really ball games. Yeah. When you start living and you know, oh, this is the difference between a business owner and an investor.

00;11;18;25 - 00;11;41;25

Unknown

Because a lot of times those and especially in real estate, a lot of times those things can look the same. And they're all right. Yeah. There's two different worlds. So no it was several years before I came across, a business coach. I was actually doing a speaking thing. Okay. And I went to a and I went to a sporting event because I was running real estate meetings.

00;11;41;29 - 00;12;08;17

Unknown

So I got the email. I don't know how I got the email, but I got the email and I was like, oh, well, I already talk every month that a couple of meetings. Let's go learn about it, right? It was interesting and one thing led to another. Next thing I know is I'm signing up for what they're doing and really and and I had no idea that what I really was signing up for was this is the world of business, what it's like to be an entrepreneur, what are the ups and downs?

00;12;08;17 - 00;12;33;21

Unknown

And just it just started it's it began a slow shift in my mind. And I say slow because by then I'd done real estate for a decade. Okay. And so, you know, you start building what you think is what you should be doing. And then ten years later, you're like, maybe we need to start rethinking this. And I would tell you to this day, we're still pivoting.

00;12;33;21 - 00;12;52;17

Unknown

Yeah, yeah. All right. I have to pause the episode real quick. If you're a real estate investor who's tired of wondering where your money is going or why you're closing deals, but still feeling broke, you need to talk to a simple CFO. Simple CFO is profit first certified and fully endorsed by Mike McCall. It's the creator of Profit First himself.

00;12;52;20 - 00;13;18;14

Unknown

Our team specializes in helping real estate investors finally get control of their cash flow. So you keep your money, you pay yourself consistently and build a business that doesn't run on chaos. We'll help you implement the profit first system the right way, so that the financial processes you've been missing and give you a dedicated fractional CFO who actually understands investing and keeping track of your numbers on flips, wholesales, rentals, private learning, all of it.

00;13;18;17 - 00;13;42;20

Unknown

So if you want predictable profit, instead of waving deal to deal, head over to simple cfo.com and book your financial clarity call today. That's simple cfo.com. Stop living in confusion and start keeping the money you worked so hard to earn. Now back to the episode. Yeah, it's like you build those habits in. It's hard to change them or it's hard to, you know, there's so many areas of business, right?

00;13;42;20 - 00;14;06;24

Unknown

It's like getting them all, all the pieces to fit. Now, before we were talking or recording here you were. You jumped more into the new construction space, it sounds like. So what was that journey like going from, you know, doing, you know, multiple eggs or strategies? Now you're kind of focusing there and why new construction. And I'm just very curious to see your your take on that.

00;14;06;26 - 00;14;28;03

Unknown

Yeah. So we did some flip of course, for several years. And that evolved into someone presented me a deal and it was our first full gut. So, you know, back then it was like, oh, that sounds exciting. The numbers looked pretty good. It was our first addition and so we did it. And you know, and it worked out okay.

00;14;28;03 - 00;14;50;14

Unknown

It was very interesting. But you know, like any new toy. Right. It was exciting. It's like, all right, right. And then, of course, I met people. I would partner with people that led to a pop the top deal. We did, you know, converting a triplex to a single family. That was an interesting one. Learning deal with historic properties.

00;14;50;16 - 00;15;10;05

Unknown

And somewhere in there, someone brought us a deal. And it was a pretty rough looking house all boarded up. And so of course, I'm thinking, oh, okay, it'll be another one of these fold remodels. And it turns out that it was in really bad shape. So we had a private lender at the time that was like, all right, well, let's do it.

00;15;10;05 - 00;15;32;02

Unknown

Because we had it so cheap. It was like silly, especially at the time. It was silly, cheap. So we were able to buy it and actually spend a few months learning about new construction, just kind of just, you know, learning from whoever I could. Yeah. And then next thing you know, we were like, all right, we're going to do our first demo, we're going to knock it down.

00;15;32;02 - 00;15;55;22

Unknown

And then we built it, and it was beautiful. And we learned a lot of lessons along the way. But little did I know that not only would that side of the business increase, but, you know, new construction is a very different animal from threats, and it really is. And I tell people, I know you're seeing hammers and sheetrock and drywall and you're thinking it's the same.

00;15;55;22 - 00;16;21;22

Unknown

I'm here to tell you it is not. It's two very different walls. Talk about that. What makes the biggest differences between fix and flip and new construction? The biggest thing is you're going to deal with in new construction. You have a lot of preparatory work. Before you ever do a thing, there's a lot of preparation. It doesn't exist in remodeling because you're dealing with existing structure.

00;16;21;22 - 00;16;46;27

Unknown

Things are going to get grandfathered in. Couldn't you still need an architect? Of course, if you have a bigger project, you could and you can make a rehab complicated, but you don't have to, right? Whereas in new construction, you've got to invent everything. Right now you're starting from square one, and then if you're tearing down a house, I tell people, a tear down is nothing more than a land deal with an extra step.

00;16;47;00 - 00;17;06;14

Unknown

That's all right. Yeah, right at the end of the deal. Yeah, that's a land deal that you need to get cheaper because you got to get rid of an existing structure, which is its own process. But you've got to do there's a lot more prep, there's a lot more time. Everything's got to be up to current codes depending on municipality.

00;17;06;14 - 00;17;29;08

Unknown

You might have meetings, you might have variances, you might have X number of things to consider that in that remodel project you don't have to deal with. And if you're doing a spec home, which is typically what investors do, most investors are not doing production in neighborhoods of 150 charter homes. Yeah, it's usually that one house to house, maybe a small block of houses.

00;17;29;10 - 00;17;58;09

Unknown

And, you know, those are treated on a one off basis and they're effectively many custom homes. And you would think if you're just going to, oh, let's just go get plans. And it all just flows beautifully. That is most definitely not reality. So it can flow pretty well. But there's all these little things, and you've got to be the person to answer all these questions that come up that, quite frankly, you don't even realize exist until you've done it and you're just like, oh my goodness.

00;17;58;09 - 00;18;19;17

Unknown

And by the way, yeah, it might not even be the house. It might be the lot, it might be infrastructure, it might be the neighbor. We have streets in Atlanta that literally flood. And if a little bit of dirt gets off of your yard and down the street, the neighbors call in there complaining because there's a spot. There's a little piece of mud in front of their yard 50ft away.

00;18;19;17 - 00;18;45;09

Unknown

It's like, oh my goodness, right? Yeah. So there's a lot of things that go into it that you just generally don't have to deal with when you remodel, especially if it's not a huge remodel. Yeah. So then would you. Okay. But you went the new construction route. So is that even with all that prep work, is it better then do you like it better than going into a remodel?

00;18;45;11 - 00;19;08;05

Unknown

So this is where it becomes very preferential. Yeah. That's why I want to know like, you know, I, I what I like about new construction is you're creating something. I like the creation process like I did excited when you're like there was nothing. And now there's something. Yeah. So and that's not even necessarily real estate. That's just what I like.

00;19;08;05 - 00;19;30;12

Unknown

I like to have that. But not everybody is like that. Some people are more of the let's polish it up mindset. Yeah. Well if that's your thing you probably won't like it. New construction remodels them make more sense. I still enjoy some remodeling. I tend to like the easier projects, but like the bid for God's fire damage. Pop the tops.

00;19;30;12 - 00;19;58;28

Unknown

I don't get as attracted to that because they become very intensive, but you feel like you're always fixing something, whereas a new construction, even though you're fixing something, it always feels like you're creating. Okay, so it's two different emotional and that's just me. Someone else might tell you some different, but that's how I look at it. Is yes, I'm quote unquote creating in a remodel, but really I'm usually fixing something.

00;19;59;01 - 00;20;18;15

Unknown

It's usually a result of something else that has to be fixed. What about the money. Right. And things. So you've got the emotional side, which I really like that because this is like your creativeness is what, you know, driving this like you want to create. What about the money side? Like do you can you make more and new construction?

00;20;18;15 - 00;20;37;12

Unknown

Is that not one of the things that matters to you as much? It's like, I'd rather just create, even if I don't make as much as maybe if I went and did you know, there's, you know, pop the tops and remodels and stuff like that. I'm just wondering for your situation, if you see that or of what you think about on the actual dollars and cents side.

00;20;37;14 - 00;21;00;17

Unknown

So now it's a great question. And what we've learned is both can be very profitable. Yeah. And both can also get you in a lot of trouble, especially if you're dealing with, especially if you're dealing with bed remodels like yeah. And we've experienced we've experienced the mountaintop and we've also experienced the valley. So we've seen both sides. We know what it's like to win big.

00;21;00;17 - 00;21;22;13

Unknown

We also know what it's like to lose a where it really hurts. We've seen both sides of it. And what I would tell you is it's important, but it's like any other deal. You got to make sure the numbers make sense. And the mistake I made and I use that word carefully, is when we do remodels, what do we typically do?

00;21;22;16 - 00;21;46;04

Unknown

We learn the Mayo formula, maximum allowable offer minus rehab. If we're not you know, we're assuming you're not wholesaling. So it's match minus rehab. Boom. Buy it. Go. That formula is not very effective in new construction. In fact, I don't think it's hardly effective at all is what I found. And the reason is in new construction you have a lot of variables.

00;21;46;04 - 00;22;07;04

Unknown

Again, there's a lot of preparatory work, so there's a lot more variables involved than even in a big remodel. Yeah. Because in a big remodel you're going to do x, y, z, and then you're gonna throw a big contingency on there. If it's especially on a bigger project with new construction, you're starting to have that contingency. But there's so many more variables to consider.

00;22;07;04 - 00;22;28;23

Unknown

It is now home to a lot of issues, growth, permits specific issues. I have and I did a video on this recently. You have impact fees that doesn't exist in a remodel, right. On some municipalities, impact fees didn't go easily well into the five digits for a single home. That's a substantial amount of money that you don't ever have to think about over here, right?

00;22;28;23 - 00;22;57;06

Unknown

Yeah. So what we've learned is we, we started new construction using mayo again. Right? Thinking all that just made sense. Well, not really, so we ended up building a different calculator altogether to help reverse engineer the process of neutral instruction to determine. Is this going to work? And it's funny, just one of the most common questions I get is, you know, this lot's been sitting here for a while.

00;22;57;06 - 00;23;19;02

Unknown

Nobody buys and I can buy cheap. Very common. And I the answer is almost always the same. Well, the reason it's really cheap is because no one's home made money building on it. You know, it's the RV is 300 grand, and with today's money, you're not making money. I mean, the seller would have to give you, like, 100 grand.

00;23;19;05 - 00;23;40;00

Unknown

And this is an arm market. The seller would have to give you 100 grand to take it off his hands for you to entertain building, say, a 1500 square foot simple house. Wow. Because of the way the numbers are. So people get attracted to these cheap lots. And you're just like, there's a reason why. They're like, you know, it's not too good to be true.

00;23;40;00 - 00;24;02;28

Unknown

In fact, it's usually not good at all. Yeah. So, yeah. So the numbers are very important, but it's a different metric of calculations. It's a, you know, and, you know, we've learned to put a healthier profit margin on them. So so does a lot of work. Yeah, it's a lot of work. When you build a house and you don't make as much money, you're like, okay, we didn't get this right.

00;24;03;00 - 00;24;26;04

Unknown

We gotta make shift. Yeah. That's really good. So then and that's where now, are you still doing other types of deals or is it just new construction that you're focused on? No, we're still we'll still do some flips, but we're leaning towards simple ones. Yeah okay. No, no more of the fold outs. I mean, not to say we wouldn't do it, but we're not looking for them, per se.

00;24;26;10 - 00;24;52;24

Unknown

Yeah. You know, we're more looking for just easy deals, some more wholesale deals, buy and hold stuff. That's. We've grown after all these years, we've grown to appreciate. Let's just do deals that make money quickly. And then stuff like new construction is great, but it's almost like a pet project. Okay. That makes sense, right? Like like because other for a while we had everything was like new.

00;24;52;24 - 00;25;19;24

Unknown

And the problem is they take so long, right? And you want to have that cash flow in the middle, right? So if I was to invest in real estate, make sure you're and it goes again knowing about the business fundamentals. Had I had that business coach hey made sure cash flow business deals, whatever they are rentals wholesale whatever is solid and then you can plug in new construction because that's not fast money.

00;25;19;27 - 00;25;37;21

Unknown

Yeah, that makes a lot of sense. So you've learned that it's what's the fastest path, you know to the cash and then taking on some of these bigger projects where you might make more it might be a good creative outlet, but don't don't do those if you need cash quickly, like if you're going to do. All right. Yeah.

00;25;37;22 - 00;26;04;06

Unknown

Because it's that's that's it. That's your razorblade creating pain. And that's something we learned the hard way. We're like, okay, wait a minute. Yeah. But again, I wasn't getting that, the help I needed until I stepped out of certain circles and yeah, put myself in business oriented circles. You know, when you look at it from a business perspective, a new construction or wholesale deal at the end of the day, it's a transfer.

00;26;04;06 - 00;26;24;11

Unknown

It's a transaction on the book, right? Yeah, right. It's a transaction. And you work with finance. So I know, you know, right at the end of the day, they're all just transactions on the books. So what does that time involve to execute those transactions. And then you're like, oh, I don't I don't get that perspective. My perspective before is let's go get the next day.

00;26;24;11 - 00;26;44;28

Unknown

All right. Let's go. Yep. That's deal. Yeah. Exactly. And it's like yeah. Like you said it's a transaction. And you're all just going after that same goal of okay, do we have more money than we had before, you know, like in this business to make sure that it's actually working? Because if you're going the wrong way, it's a good way to go down and business.

00;26;44;28 - 00;27;03;16

Unknown

So I like how you put that in just very simple terms. It's like, okay, it's at the end of the day, it's just a transaction. But I think there's been a lot of good insights here where, you know, you got into it from the Rich dad seminar, but then from there you I like how you said the perspective of don't split your focus.

00;27;03;18 - 00;27;27;23

Unknown

I feel like that's just so resonant with so many people. Like they get this shiny object syndrome and then they're like, oh, that sounds good. Or I'm taking these different classes, learning these different things, going to an event and like, oh, I should be doing what they're doing. So really focusing on getting a coach in your life is specifically a business coach, someone who knows business and not necessarily just always the niche that you're doing, real estate or whatever.

00;27;27;25 - 00;27;49;02

Unknown

I thought that was really good advice. I liked what you said too, about the right timing when you talked about reading, you know, the Cashflow Quadrant. It's almost like that was good at that point. But then once you're actually in the trenches, things mean different things. Then when you read them, the three were kind of. So I thought that was really good too, which, you know, I know this is the first I podcast.

00;27;49;02 - 00;28;12;25

Unknown

So it's like sounds like that's what happened when we were talking before about Profit First. You know, it's like, hey, this is a great concept. Now let's start to implement it once we get things rolling here. And like going down that path. So speaking to that right timing thing as well too, any advice there. You know, you mentioned the book Cashflow Quadrant and what another thing I've learned is, you know, we're always seeing.

00;28;12;28 - 00;28;36;20

Unknown

Right. Let's what's the next great book that's and that's great. But what's in that great book. Right. And it's like the books themselves become shiny objects. That's so good. But but then reality, the most important books that I've learned are one of two fold. One, the ones that focus on fundamentals. And I think the other one because. Right.

00;28;36;20 - 00;28;58;18

Unknown

Because we need those fundamentals. I always love that, you know, Michael Jordan always talked about fundamentals and he was the best. So it's like yeah, right. But then you also have those books about people that you know, their journey to success. And I think those are really valuable because when you hit hard times in this business and you will, everybody will.

00;28;58;21 - 00;29;35;22

Unknown

It can get pretty dark and we need those people that have walked that path before us. Yeah. So remind us, okay, as dark as a moment might feel, you're not the only one that's been there. Yeah, right. It's not, it's not, it's not. The sun will rise at the end. And I think that's where also having that business coach helps to really help keep you reminded of, to help keep you grounded, so to speak, that as you go through a tough time, it's like, you know, you'll pass.

00;29;35;22 - 00;29;59;07

Unknown

And, you know, I put myself in some circles right out, some made some very successful people, in all facets of business. And one of the things I really love about that was that, you know, the ones I talked to, they had got a similar sentiment, which was, it's hard to appreciate a ton of success if you haven't first walked through a very dark path.

00;29;59;10 - 00;30;36;13

Unknown

Yeah, right. You need that, right? When you go through that really dark time. Then when you come back up to the mountaintop, it means so much more. Yeah. Then it might have if you've never had a dark time. Yeah. That's also a lot of gratitude in there. Now that's good. I like that last minute advice there where you said books can become the shiny objects and then how you like the two types of books over your career that have really helped you, fundamentals and the journey to success and knowing that you're not alone because that's that's really good because of so many people like you said, feel like sometimes that they're just that island to

00;30;36;13 - 00;30;54;07

Unknown

themselves. And it's like, well, lots of people have walked this path and just getting around, those people are reading the books about, that's really good. So I really liked it. So then, Frank, how can people connect with you? You know, like, I know a website, you've got the podcast, I don't know, what do you on a how can people get Ahold of you?

00;30;54;10 - 00;31;16;24

Unknown

Sure. So I'm on all the social media channels, all the common ones, Facebook, Instagram, LinkedIn, so forth. But I love phone calls. Our number (678) 408-2228. So, you know, attached to calls. We're still a little bit old fashioned that way if you call leave a voicemail, we'll call you back. Like we really. Well, we actually do check our voicemails.

00;31;16;24 - 00;31;36;08

Unknown

It's pretty cool. And, and also my website Frank did was just. Com there's a contact form there, between any of those, I mean, I'm not. If you Google me, I'm not hard to find, so. Oh, there you go. That's how you can connect with Frank if you've enjoyed his wisdom here, what is the name of your podcast so people can look that up too?

00;31;36;10 - 00;32;03;00

Unknown

Oh yeah. Our podcast is called What Worked for You. Well, and it's and it's a compilation of people that have had entrepreneurial success or are still building up to it that's having success, in the process. And it's about those journeys that people have taken. And it's it's really been humbling because again, it goes back to the you're not in this alone.

00;32;03;00 - 00;32;24;29

Unknown

People have had all these journeys to get there. And it's some good stuff. Powerful. Very humbling. Yeah. Well there you go. So what's worked for you? That's the name of the podcast. And then, man, this is really good. There's just so many good, good gold nuggets here today. Remember not to split your focus. Remember to not to have the shiny objects in your life.

00;32;24;29 - 00;32;43;19

Unknown

Like, even if they're books. Then I really like what you said. Get that business code, get the right timing, you know, that type of stuff. But then if you're also listening to this and you're like, what the heck? I don't know what I'm doing with my money. And like, I'm making money, but being broke and like, yeah, a lot of what he's saying really resonates, but I don't even know how to get ahead.

00;32;43;19 - 00;33;00;09

Unknown

You can head over to simple cfo.com. We can help you take that first step on your journey. Get someone in your life that can help you and guide you and hold your hand if you're not. If you don't like the financial side of your business. So we can help you from the financial coaching aspect for you if you're a business owner.

00;33;00;12 - 00;33;23;19

Unknown

Frank, this has been awesome. Thanks for coming on today. Being a great guest and sharing your wisdom with all the listeners here, I appreciate it. Thank you for taking the time. And yeah, I enjoyed it. Thank you David. And remember, if you're listening to this make profit a habit in your business. That's it for today's show. Be sure to subscribe, review and share this episode.

00;33;23;19 - 00;33;31;22

Unknown

If you're serious about financial systems and keeping more of your profit, visit simple cfo.com to take your free discovery call today.